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The forecasts of surging wind and solar production pressured the power spot prices for today, although the expectations of overall lower temperatures might have limited the losses. The day-ahead prices reached 64.20€/MWh on average in Germany, France, Belgium and the Netherlands, -6.17€/MWh from Friday.
The carbon prices rallied to a new record above 49€/t on Friday afternoon as strong speculative buying triggered some short covering from the market participants who bet on a downward correction induced by the end of the compliance cycle, while the soaring gas market provided additional support and the carbon market ignored the falling oil and equity prices.
The surging gas and emissions prices strongly lifted the power prices as well on Friday which posted hefty gains along the curve.
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